Many times customers like to have a discount, so it is good to price your product, putting the allowance for discount between US$ 50-500 without getting a loss. If you have Sapphire worth US$ 1,000 per piece of 10 carats, and a customer asks for a discount of US$ 500, it might be possible if you could price it at US$ 1,500, you could sell at US$ 1,000 without a loss.
Many customers from overseas come to Africa or Tanzania, knowing that they will get plenty of gemstones at a cheap price. So they do not have much time to waste looking for carats, so sell them in parcels or in lots and not in grams or in carats. For instance, you have a Tanzanite of 3 carats. And a carat is sold for US$ 300 and is graded B+. So do not confuse the customer by taking a lot of time looking for a scale and calculator. Just go straight to the point “this is 3carat Tanzanite, B+, the price is US$900.”
It is good you put visible price tags on every displayed gemstone. Sometime a customer could not have the courage to ask for the price, because of the fear of not affording the price. The price tag will help solving the problem, as simple as pick and pay.
If you are not careful you can lose lots of cash by not having the change, even as small as US$50. The Arusha Gem Fair holds at Mount Meru Hotel, whereby at the reception there is a Bureau de Change at your service.
In some previous Gem Fair I lost many sales through pledges “I will come to buy tomorrow”. You can’t force a customer to buy now but you can convince a customer to buy even if it is to follow cash to the hotel assist them. Or even if is to convince a customer to pay a down payment and clear the balance when collecting the good the following day, please do so.
Many business men target a sales at the Gem Fair only, but that is platform for getting new customers after sales as well. Then you start a follow up on the new customers, not that when the Gem Fair is over everything is over.
In a Gem Fair you should have at least 300 flyers not a few that will only last for one or two days. The kind of flyers and brochures to be used on such an event, should not be dated which can be for future use. Make sure they are presentable enough to impress and attract a customer.